E90Post
 


PYSPEED
 
BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > Regional Forums > UK > UK Off-Topic Discussions > M5 Company Car



Reply
 
Thread Tools Search this Thread
      04-18-2013, 03:30 PM   #1
scooba0010
Colonel
United Kingdom
39

 
scooba0010's Avatar
 
Drives: F32 430D-MOTORSPORT
Join Date: Jun 2007
Location: UK


Posts: 2,214
iTrader: (1)

M5 Company Car

I have a friend who has a MB 600 s class company car he is changing his company car for a new M5 ,

I am really curious as to what it must be costing him , he is a accountant and I would have thought as such he would avoid such cars knowing the cost or is he making so much money it doesnt matter.

So my question to the more informed what would it be costing him to run a new M5
Appreciate 0
      04-18-2013, 03:32 PM   #2
stevie996
First Lieutenant
United Kingdom
6

 
stevie996's Avatar
 
Drives: Mercedes Benz E250 CDI AMG
Join Date: Apr 2007
Location: Wales,UK


Posts: 361
iTrader: (3)

Is it defo going through a company or a partnership?
Appreciate 0
      04-18-2013, 03:35 PM   #3
dopper99
Brigadier General
England
60

 
dopper99's Avatar
 
Drives: F30 335d M Sport
Join Date: Jun 2011
Location: UK


Posts: 4,181
iTrader: (1)

You can lease a M5 for about 700 at month if you know where to look. Needs about 5k up front though
Appreciate 0
      04-18-2013, 03:49 PM   #4
GAVGOLF
New Member
0

 
Drives: x5
Join Date: Jan 2010
Location: nottm


Posts: 29
iTrader: (1)

the issue is not the paying for the car it is the BiK tax thats the crippler! (if it is truly a company car)
Appreciate 0
      04-18-2013, 05:54 PM   #5
dopper99
Brigadier General
England
60

 
dopper99's Avatar
 
Drives: F30 335d M Sport
Join Date: Jun 2011
Location: UK


Posts: 4,181
iTrader: (1)

Here's a cheap lease 589 + VAT
http://www.selectcontracts.co.uk/bmw...to-saloon.html
Hell of a lot of car for the money.
Appreciate 0
      04-19-2013, 12:32 AM   #6
scooba0010
Colonel
United Kingdom
39

 
scooba0010's Avatar
 
Drives: F32 430D-MOTORSPORT
Join Date: Jun 2007
Location: UK


Posts: 2,214
iTrader: (1)

He is a Accountant for one of the larger NHS Trusts , its the BIK I was interested in as the Company (NHS) I assume will pick up the lease agreement.
Appreciate 0
      04-19-2013, 02:43 AM   #7
xenon
Brigadier General
England
61

 
xenon's Avatar
 
Drives: 2013 F10 520d M-Sport
Join Date: Jun 2008
Location: Coventry


Posts: 4,928
iTrader: (0)

Nice to see the NHS spending wisely.
__________________
Ian
Current: 2013 F10 520d M-Sport, Professional Media, Visibility Pack, Reversing Camera, DAB
Previous: 2011 F10 520d M-Sport, 2008 320i M-Sport Coupe, 2002 325i, 2001 318i valvetronic, 1998 318i, 1996 525i, 1990 Porsche 944S2
Appreciate 0
      04-19-2013, 03:58 AM   #8
djgandy
Major
11

 
Drives: E92 335i MT
Join Date: Aug 2012
Location: London


Posts: 1,069
iTrader: (0)

Garage List
2007 BMW 335i  [0.00]
Quote:
Originally Posted by scooba0010 View Post
He is a Accountant for one of the larger NHS Trusts , its the BIK I was interested in as the Company (NHS) I assume will pick up the lease agreement.
I think he is in the same situation as anyone who got an IT contract from gov 10 years ago was. He is bleeding them dry!
Appreciate 0
      04-19-2013, 04:07 AM   #9
phil200tdi
Colonel
United Kingdom
43

 
phil200tdi's Avatar
 
Drives: 335i M Sport E90 LCI manual
Join Date: Jan 2011
Location: Aylesbury


Posts: 2,631
iTrader: (1)

How many business miles does an NHS Accountant do!

To get that sort of car he must be CFO - 95-110K PA

http://www.england.nhs.uk/wp-content...ance-final.pdf
__________________
Car: 2010 Jaguar XFR (Stock - For now)
Gone but not forgotten: Highly Modified E90 335i LCI M Sport Manual (circa 480BHP/500lb ft)
Appreciate 0
      04-19-2013, 04:09 AM   #10
Sir_Pigley
Captain
United Kingdom
12

 
Sir_Pigley's Avatar
 
Drives: 525d M Sport
Join Date: Sep 2009
Location: Banbury


Posts: 843
iTrader: (0)

Garage List
Send a message via Skype™ to Sir_Pigley
The NHS operate something like a cheap or subsidiesed lease scheme (I don't understand the details). That may avoid the BIK issue altogether.
Appreciate 0
      04-19-2013, 04:16 AM   #11
Guvernator
Captain
7

 
Drives: BMW 335i SE Cabriolet
Join Date: Mar 2012
Location: LONDON


Posts: 616
iTrader: (0)

I would have thought he is leasing it through his company so he can get the better lease deals but just paying the lease himself and not putting it through the company as an expense therefore not liable for BiK. Easy enough to do.
Appreciate 0
      04-19-2013, 05:17 AM   #12
phil200tdi
Colonel
United Kingdom
43

 
phil200tdi's Avatar
 
Drives: 335i M Sport E90 LCI manual
Join Date: Jan 2011
Location: Aylesbury


Posts: 2,631
iTrader: (1)

Not legal though...
__________________
Car: 2010 Jaguar XFR (Stock - For now)
Gone but not forgotten: Highly Modified E90 335i LCI M Sport Manual (circa 480BHP/500lb ft)
Appreciate 0
      04-19-2013, 05:29 AM   #13
Guvernator
Captain
7

 
Drives: BMW 335i SE Cabriolet
Join Date: Mar 2012
Location: LONDON


Posts: 616
iTrader: (0)

Quote:
Originally Posted by phil200tdi View Post
Not legal though...
Really? Why not? Just use the company name when signing the paper work for the lease, the lease company won't check or care. Then just pay for it with your own personal funds and not the companies hence it not needing to go on the company books. Then if you do any business mileage just claim the petrol back at 45p as usual. Can't really see why this would be illegal and I know LOTS of people that do exactly this.
Appreciate 0
      04-19-2013, 05:35 AM   #14
rich1068
has left the building
United Kingdom
52

 
Drives: F30 330d M Sport
Join Date: Oct 2010
Location: UK


Posts: 3,363
iTrader: (0)

I know LOTS of people who smoke weed too
Appreciate 0
      04-19-2013, 06:00 AM   #15
Guvernator
Captain
7

 
Drives: BMW 335i SE Cabriolet
Join Date: Mar 2012
Location: LONDON


Posts: 616
iTrader: (0)

Quote:
Originally Posted by rich1068 View Post
I know LOTS of people who smoke weed too
Smoking weed is illegal, signing a lease using a company name but then paying for it yourself is not (as far as I am aware). Obviously you can't claim the VAT back this way but you don't get hit with BiK either. It's just a way to get access to the cheaper lease deals offered to businesses.
Appreciate 0
      04-19-2013, 06:51 AM   #16
mowflow
Colonel
Scotland
27

 
mowflow's Avatar
 
Drives: F20 125d
Join Date: Feb 2010
Location: Glasgow


Posts: 2,429
iTrader: (2)

This thread has made me angry. Government employees getting M5s as company cars He can't be any good at the accounting either, the NHS is a financial cluster fuck

I don't know anyone that smokes weed and I have no idea how it would have got in my pocket officer.
__________________
Daily F20 125d | Alpine white | coral red leather | visibility pack | driver comfort pack | Business pro | black panel display | heated seats | BMW P Black grill
Project Peugeot 205 1.6 GTi | Alpine white | No ABS | No traction control | No power steering... pretty much just a car
Appreciate 0
      04-19-2013, 07:52 AM   #17
Guvernator
Captain
7

 
Drives: BMW 335i SE Cabriolet
Join Date: Mar 2012
Location: LONDON


Posts: 616
iTrader: (0)

Doesn't surprise me to be honest. I know lots of contractors who are doing VERY well working for the government, it's literally a license to print money. It's strange that the people responsible for spending our tax money don't seem to have the first clue about things like getting value for money. If a business was run this way, it would be bankrupt within a year.

Almost every Government project is delivered way over budget and late.
When a simple toilet costs 5k to install, you know something has gone terribly wrong somewhere. No wonder the countries in so much sh*t!
Appreciate 0
      04-19-2013, 07:55 AM   #18
Sportplus
Lieutenant
Scotland
5

 
Sportplus's Avatar
 
Drives: 318i M Sport E91
Join Date: Oct 2010
Location: London


Posts: 550
iTrader: (0)

Quote:
Originally Posted by scooba0010 View Post
I have a friend who has a MB 600 s class company car he is changing his company car for a new M5 ,

I am really curious as to what it must be costing him , he is a accountant and I would have thought as such he would avoid such cars knowing the cost or is he making so much money it doesnt matter.

So my question to the more informed what would it be costing him to run a new M5
Have you asked him???
Appreciate 0
      04-19-2013, 07:58 AM   #19
creepy coupe
Major General
98

 
creepy coupe's Avatar
 
Drives: M235i
Join Date: Aug 2007
Location: UK


Posts: 8,173
iTrader: (2)

Garage List
2009 335i  [0.00]
Quote:
Originally Posted by xenon View Post
Nice to see the NHS spending wisely.
Drop in the ocean Ian. You should see what they pay OT's for the cases they deal with per week
Appreciate 0
      04-19-2013, 08:36 AM   #20
Hotcoupe
Major General
United Kingdom
70

 
Hotcoupe's Avatar
 
Drives: Don't know yet!
Join Date: Jul 2007
Location: UK


Posts: 6,105
iTrader: (2)

Garage List
Quote:
Originally Posted by xenon View Post
Nice to see the NHS spending wisely.
Coooeee (wave),it's Polly Toynbee again

M5's have to be paid for somehow.

I guess the reduction in the Welfare budget will partly fund the NHS bureacrats luxury wagons.

I bet an accountant spends all 5 days of the week on the road buzzing here and there,the new M5 is really fuel efficient apparently

............................when it's sat in a hospital car park!

I bet he gets to park it for free as well.
__________________
=================================


Never argue with an idiot on the internet. He will drag you down to his level and beat you with experience.
Appreciate 0
      04-19-2013, 08:38 AM   #21
xenon
Brigadier General
England
61

 
xenon's Avatar
 
Drives: 2013 F10 520d M-Sport
Join Date: Jun 2008
Location: Coventry


Posts: 4,928
iTrader: (0)

Coooee, Polly! Richard Littlejohn here!
__________________
Ian
Current: 2013 F10 520d M-Sport, Professional Media, Visibility Pack, Reversing Camera, DAB
Previous: 2011 F10 520d M-Sport, 2008 320i M-Sport Coupe, 2002 325i, 2001 318i valvetronic, 1998 318i, 1996 525i, 1990 Porsche 944S2
Appreciate 0
      04-22-2013, 06:54 AM   #22
chrisbin
Colonel
36

 
chrisbin's Avatar
 
Drives: M-Benz C250CDi Est
Join Date: May 2005
Location: S.Wales, UK


Posts: 2,328
iTrader: (1)

To answer the original question.....!

IF its a REAL company car, then the costs would be:

For a bog standard (!) M5 without any options:
Tax payable at 40% 10,147 p.a. (car only)

If fuel provided for private use then:
Tax payable at 40% 2,954 p.a. (fuel benefit)

So, I would suspect that he is just using the company to lease the car....!!
__________________
Current - M-Benz C250Cdi Sport Plus Auto Est.

Previous - Alpina D3 BiTurbo E90 LCI Manual, 320d M Sport E92 Auto, 330i M Sport E92 courtesy of BMW UK....320i M Sport E92 Auto, 320d SE E90 Manual.
Appreciate 0
Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 09:49 AM.




e90post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST